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Discussion Question What types of homebuyer education do you provide? 10

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Homebuyer Education Classes Pros Provides overview of home buying process Helps client understand affordability Improves clients ability to maintain a home Provides guidance on how to manage a mortgage Cons Difficult to get families to attend Need instructors who understand home buying process 11

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One-on-one Homebuyer Counseling Pros Provides clients help with each of their individual situations Helps client to navigate through the home buying process Keeps client engaged in the process Cons Not as cost effective as group classes Takes more staff time to deliver 12

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Credit Counseling Pros Helps clients to manage their credit more effectively Provides client with a plan to improve credit score Helps clients get out of financial troubles Improves loan product options and terms Cons Some clients may not feel comfortable discussing financial their financial situation with counselors Takes a long time Must be delivered by trained personnel 13

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SDHDA Administered Sources HOME – for homeownership development subsidies Homeownership Education Resource Organization (HERO) Serves as an intermediary in the state for: HUD Housing Counseling National Foreclosure Mitigation First-time Homebuyer Program Down payment assistance 20

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Ways to Build Staff Capacity NeighborWorks America www.nw.org Training scholarships through NeighborWorks affiliates National American Indian Housing Council www.naihc.net Training for NAIHC members and their partners Native Community Development Financial Institutions (CDFIs) Can contract or partner with them to deliver homebuyer education SDHDA Homeownership Education Resource Organizations 21

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Native Curricula Building Native Communities: Financial Skills for Families financial education curriculum. Contact Oweesta at (303) 774-8838 or www.oweesta.orgwww.oweesta.org Pathways Home: A Native Homeownership Guide. Contact National American Indian Housing Council at 202-789-1754 or www.naihc.net. Covers:www.naihc.net The mortgage loan process How to prepare a family budget How to improve credit profiles How to avoid the pitfalls of predatory lending How to maintain a home and finances after purchase 22